Five things retail companies should know about RFID

RFID is not going anywhere. It is going to help your supply chain!

RFID technology is really making a splash in not just retail but many other markets as well. In the last couple of years, RFID has been adopted by many, many major retailers. The reason for this is simple. They need to fulfill the multi-channel retail demands of today’s consumers. Retailers are using RFID to improve the consumer online shopping experience, while making brick and mortar operations run more efficiently. Brand owners can also benefit tremendously from RFID. You might ask yourself, how are the brand owners benefiting? By using the RFID tags in their own supply chain.

Many brand owners are ready to start using RFID. Before they do, there are many questions to answer. What is the cost of the RFID tag? When can I see an ROI (Return On Investment)? Where is the proper place to implement RFID in my supply chain and many more. One of our partners, Cybra, has made an ebook to help answer these questions so that you can implement RFID successfully into your supply chain.

Many retailers have adopted the RFID technology within their supply chain in order to improve inventory accuracy. This can be done by looking at improvements on both the Sales floor and in the warehouse. This allows the retailers to develop a seamless shopping experience for the consumer at the store and online. This adoption is allowing retailers to see in store accuracy jump to as high as 98% in some cases.

Brand owners and manufacturers should also consider implementing RFID. Here are a couple of ways RFID can help a brand owner’s bottom line.

REDUCE CHARGEBACKS

RFID can make an immediate impact on your supply chain. This is done by improving the picking and packing accuracy of shipped goods. Retailers are increasingly penalizing brands for shipping errors. With RFID, you can ensure 99.99% shipping accuracy, without slowing down your operation.

REDUCE PUTAWAY TIME

RFID can be a huge timesaver. With just one or two employees, you can track and locate items within seconds. An employee doing inventory counts can scan dozens of RFID tags per second, when they could only scan a handful of barcodes per minute. You will see this timesaver instantly. Not only will the efficiency go up, the employess will enjoy the speed it adds to their daily work.